Today 8minutenergy Renewables announced that it has commissioned the 155 MW-AC Springbok 2 solar plant in Kern County, California, working with partners D.E. Shaw and Swinteron Renewable Energy. The project comprises 600,000 multicrystalline silicon PV modules mounted on Array Technologies trackers, located on over 1 square mile of unused farmland 70 miles north of Los Angeles.

Springbok 2 holds a 30-year power contract with the Southern California Public Power Authority on behalf of the Los Angeles Department of Water and Power (LADWP), at a price of $58.65 per megawatt-hour (MWh).

While this is a very inexpensive power purchase agreement (PPA) for the time of signing, GTM Research says that it has found at least two PPAs that are even less expensive during this time period, including one plant that came online in August of this year with a PPA of $42/MWh.

“For projects operating it is low but we have a handful that are lower as well as several set to come online in Q4 that I expect to be sub $50.00/MWh,” GTM Research Solar Analyst Colin Smith told pv magazine.

D.E. Shaw and its affiliates invested most of the equity in the Springbok 2, and arranged financing from a group of lenders and tax equity investors.

Christian Roselund

Christian Roselund serves as Americas editor at pv magazine, and joined in 2014. Prior to this he covered global solar policy, markets and technology for Solar Server, and has written about renewable energy for CleanTechnica, German Energy Transition, Truthout, The Guardian (UK), and IEEE Spectrum.More articles from Christian Roselund